Premiere Horizon Alliance Corporation (PHA) closed on Friday, July 19, at P0.86 per share, up by 4.86 percent. PHA is up by 164.62 percent year to date. This stock registered a one-day Net Foreign Buying worth nearly P8 million on Friday. That’s its highest one-day Net Foreign Buying since February 26, 2009. Last Friday was also its highest one-day volume since February 1, 2019.
On the other hand, let’s not forget that PHA has been in a consolidation phase since April 2019. It has been trading the 0.78-1.00 range.
While the Fantastic Four signals of PHA are already present, my 10SMACD combo is not yet validated. This means those who are planning to enter a new position on PHA must carefully think about it.
Note: Those who attended The Evergreen Strategy in Trading the Philippine Stock Market seminar understand what the 10SMACD and Fantastic Four signals are, how to use them, when to use them, and why they should be used. I’ll be in Davao City this July 27 to conduct this seminar.
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RSI is in the neutral zone. The +DMI and -DMI are still intertwined with each other and ADX is below 25. That’s a sign that PHA is not yet out of the consolidation phase.
Do you like trading ranges or trends?
I prefer trends and not ranges. But to each his own. So I’ll leave it up to you.
Trade-Volume Distribution
Last Price: 0.86
VWAP: 0.830581133
Most Traded: 0.85 – 0.86
Most Voluminous: 0.82 – 0.82
Disregard that long volume bar at 0.82. Cross-trades happened at that price. I disregard cross-trades in my trade-volume distribution analysis because cross-trades are, sometimes, controversial.
S.J. ROX and WEALTH SECURITIES cross-traded 187,714,000 and 3,000,000 shares, respectively, last Friday. Therefore, the legit dominant range last Friday was between 0.85 to 0.87.
True Market Sentiment
True Market Sentiment of PHA as of Jul-22-2019 at 03:30PM, with a last price of 0.8600.
4 of the top 10 brokers registered a positive Net Amount
4 of the top 10 brokers have a higher Buying Average than Selling Average
True Market Sentiment: BEARISH
Top 10 Players’ Buying Average: 0.8467
Top 10 Players’ Selling Average: 0.8483
Bonus Info:
15 out of 52 participants or 28.85% of all participants registered a 100% BUYING activity
10 out of 52 participants or 19.23% of all participants registered a 100% SELLING activity
This bearish true market sentiment tells me that the majority of the top 10 brokers don’t have the huge appetite to buy up this consolidating stock.
Besides, their collective Selling Average is higher than their collective Buying Average. I prefer to see the opposite of that.
Recommendations
If you have PHA and it’s still trading above your trailing stop loss, you can top-up but do it between 0.85 to 0.87. If and when PHA starts at a price lower or higher than that range, immediately request for this stock’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum. You must be a subscriber to access the forum.
If you do not have PHA and you’re planning to enter a new position, I suggest that you postpone that plan and continue monitoring PHA for now. At least, wait for my 10SMACD combo to be re-validated since the Fantastic Four Signals are already present. Remember lessons 2 to 5 from The Evergreen Strategy in Trading the Philippine Stock Market seminar. I sent you detailed handouts. Please review what I taught you. If you’re a subscriber of Equilyst Analytics, I also suggest that you post a request for the stock’s latest Trade-Volume Distribution and True Market Sentiment charts in our Private Clients Forum.
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